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CATEGORY ‘C’
Provision of Car with Driver and Telephone at the Residence will not be considered as perquisites.
Other Terms andConditions
1.
he will not be entitled to sitting fee for attendingmeeting of Board or of a Committee thereof.
2.
If during the currency of tenure of the Joint Managing Director, the company has no profits or profits are inadequate, in any financial
year, the Joint Managing Director shall be entitled to remuneration by way of salary and perquisites as per the limits prescribed in
Schedule XIII to the CompaniesAct, 1956.
3.
The Joint managing Director holds office as such, subject to the provisions of the Section 283 (1) of the CompaniesAct 1956.
4.
That the Joint Managing Director shall not so long as he continues to be Joint Managing Director of the Company be liable to retire
by rotation.
5.
That the Jt. Managing Director shall not become interested or otherwise concerned directly or through his relatives as defined
under the Companies Act in any selling/ buying agency of the company without the prior approval of the Board so long as he
functions in such capacity.
6.
That the Jt. Managing Director shall not, during the continuance of his employment or any time thereafter, divulge or disclose to any
person, firm, company, body corporate or concern whatsoever or make any use for his own or for whatsoever purpose of any
confidential information, or knowledge obtained by him during his employment of the business or affairs of the company or of any
trade secrets or secret processes of the company and the Jt. Managing Director shall, during the continuance of his employment
hereunder, also use his best endeavour to prevent any other person, firm, company, body corporate or concern fromdoing so.
7.
That the Jt. Managing Director shall, throughout the said term, devote his full attention and abilities to the business of the Company
and shall comply with the directions from time to time of the Board and in all respects confirm to the regulations made by the Board
and shall diligently promote the interest of the Company.
8.
In the event of the Jt. Managing Director being found guilty of misconduct or negligence in the discharge of his duties or in the
conduct of the company’s business or of any other act or omission inconsistent with his duties as the Jt. Managing Director or any
breach of this agreement, which in the opinion of the Board requires termination from the office of the Jt. Managing Director. The
Company shall be entitled to terminate this agreement without any notice and compensation.
9.
Unless otherwise contained in Clause 6 above, the Company can at its discretion terminate the contract / agreement by giving
three months notice of such termination or on payment of three months salary and no compensation will be payable to the
Jt. Managing Director for the unexpired portion of this agreement.
10. That the Jt. Managing Director can also terminate the Contract / Agreement by giving three months’ notice in writing to the
Company at the Corporate Office. In that event he undertake to peacefully handover the charge including all necessary
documents, files and papers to such person or persons as may be informed by theManaging Director in writing.
11. That the Jt. Managing Director shall have powers as delegated by the Board of Directors for the management and control of the
Company.
12. That the Jt. Managing Director acting as an officer of the company as defined under the CompaniesAct shall have powers to act, do
such things on behalf of the company in respect of the affairs and business of the company and as are not forbidden by the
provisions of the companiesAct, 1956 or any other statute for the time being to be done by the Jt. Managing Director or required to
be done by the company in General Meeting or by the Directors.
13. That the Joint Managing Director shall have power on behalf of the Company to institute, conduct and defend suits, prefer appeals
and sign all plaints, written statement, engage solicitors, employ and discharge the officers, staff, workers and other person for the
business of the Company and to pay their remuneration.
14. The Board of Directors of the Company may at its discretion revise the terms and conditions from time to time with the approval of
themembers.
15. This modification / revision in remuneration and terms and conditions of appointment is subject to the approval of the members of
the Company.
For all other terms and conditions not specifically spelt out above, the rules and orders of the Company shall apply.
Your Board of Directors recommends the resolution for the approval of themembers.
None of the Directors except Mr. Ashok Kajaria, Chairman & Managing Director and Mr. Chetan Kajaria, Joint Managing Director being
relatives of Mr. Rishi Kajaria andMr. Rishi Kajaria himself is concerned or interested in this resolution.
The above mentioned terms and conditions may be treated as an abstract of the terms of Contract as desired under section 302 of the
CompaniesAct 1956.
FORKAJARIACERAMICS LIMITED
DATE: 27.04.2012
RCRAWAT
PLACE: NEWDELHI
SR. VP (A& T) &COSECRETARY
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